From the Pew Research Center's Project for Excellence in Journalism:
In 2012, a continued erosion of news reporting resources converged with growing opportunities for those in politics, government agencies, companies and others to take their messages directly to the public.
Signs of the shrinking reporting power are documented throughout this year’s report. Estimates for newspaper newsroom cutbacks in 2012 put the industry down 30% since its peak in 2000 and below 40,000 full-time professional employees for the first time since 1978. In local TV, our special content report reveals, sports, weather and traffic now account on average for 40% of the content produced on the newscasts studied while story lengths shrink. On CNN, the cable channel that has branded itself around deep reporting, produced story packages were cut nearly in half from 2007 to 2012. Across the three cable channels, coverage of live events during the day, which often require a crew and correspondent, fell 30% from 2007 to 2012 while interview segments, which tend to take fewer resources and can be scheduled in advance, were up 31%. Time magazine, the only major print news weekly left standing, cut roughly 5% of its staff in early 2013 as a part of broader company layoffs.